Are you overpaying? How to find the Best High Risk Merchant Account today?
If you own a business that is deemed high risk, you know how expensive payment processing can be. The bigger issue is whether you are actually paying too much for your company's payment processing. Many companies continue to pay excessive or unreasonable fees, along with such lengthy contract commitments that it seems to be the only option available to them, which is not necessarily the correct approach. The good news? You can find a great high risk merchant account without sacrificing your profit margin. 1. Understand Why You Are Classified as High Risk Businesses like companies, supplements, travel companies, gaming industries, and subscription businesses may be deemed high risk by their processing bank due to chargebacks and/or regulatory restrictions. Pricing is dependent on the risk involved with an account, which is determined by experience and the volume of business conducted on a monthly basis. Before agreeing to a quote from an acquiring bank, check your chargeback ratio,...